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The Big Take

Billionaire Paulson Who Shorted Subprime Calls Crypto ‘Worthless’ Bubble

The investor also explains why gold is poised to surge on “Bloomberg Wealth with David Rubenstein.”

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Cryptocurrencies Are a Bubble: John Paulson

Ever since John Paulson bet against the U.S. housing market more than a decade ago, people keep asking him about his next big trade.

The billionaire hasn’t found anything to rival his massive short, but it’s hard to top the $20 billion that Paulson made for himself and investors when subprime mortgage bonds collapsed and ignited the worst financial crisis since the Great Depression.